FSI 2015 programme - Bank for International Settlements · Institute Overview of 2015 Programme for...

2015

Pro

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FSI Financial Stability Institute

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Contents

The Financial Stability Institute . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

FSI Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Overview of 2015 Programme for Financial Sector Supervisors . . . . . . . . . . . . . . . . 6

High-level Meetings and Policy and Implementation Meetings . . . . . . . . . . . . . . . . . 8

Global Seminars in Switzerland for Banking Supervisors . . . . . . . . . . . . . . . . . . . . . 9

Global Seminars in Switzerland for Insurance Supervisors . . . . . . . . . . . . . . . . . . . . 15

Virtual Seminar for Insurance Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

Regional Seminars for Banking Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

Regional Seminars for Insurance Supervisors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

Cross-sectoral Seminars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

FSI Connect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

FSI Connect Tutorials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Meet the People at the FSI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36

How Do I Access the FSI’s Services? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

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The Financial Stability InstituteThe Bank for International Settlements and the Basel Committee on Banking Supervision jointly cre-ated the Financial Stability Institute (FSI) in 1999 to assist supervisors around the world in improving and strengthening their financial systems.

Objectives of the FSI• To foster sound understanding of supervisory

standards and practices globally and to assist supervisors in implementing these standards and practices

• To keep supervisors updated with the latest infor-mation on market products, practices and tech-niques

• To provide a venue for policy discussion and shar-ing of supervisory practices and experiences

• To promote cross-sectoral and cross-border supervisory contacts and cooperation

The FSI’s Main Activities and Products• Conferences, high-level meetings and seminars

in Switzerland and globally

• FSI Connect (a web-based learning tool and infor-mation resource)

• Research and analysis

• Fellowship programme

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FSI ActivitiesFSI EventsThe FSI offers an extensive programme of confer-ences, high-level meetings and seminars for finan-cial sector supervisors . More than 50 events are held annually .

• Conferences and high-level meetings are de-signed for heads of supervision and senior super-visors from financial sector supervisory authori-ties .

• Global seminars in Switzerland provide opportuni-ties for senior supervisors from around the world to learn about, and exchange views on, leading concepts related to financial sector supervision and regulation .

• Regional seminars are organised jointly by the FSI and regional supervisory groups in various locations around the world . The topics for each seminar are chosen by the regional groups in con-sultation with the FSI .

General Information on FSI EventsParticipation: Participation in FSI events is generally open to senior staff and technical experts from cen-tral banks and supervisory authorities . Any excep-tions are noted under the event description . Regional seminars are generally limited to senior super visors from the member and observer organisations of the designated regional supervisory group .

Further information on how to register for an event can be found in the section “How Do I Access the FSI’s Services” on page 41 .

FSI Connect: For most FSI seminars, access to relevant FSI Connect tutorials will be provided to seminar participants approximately two weeks prior to the event in order to assist them in preparing for the seminar .

Costs: The FSI does not charge any fees for partici-pation in its events . Participants are responsible for their own travel and lodging expenses, and insurance .

Changes: Additional events may be included during the year and dates for scheduled events change on occasion . For the most up-to-date information, con-sult the FSI website (www .bis .org/fsi/activities .htm) .

FSI ConnectFSI Connect is an online learning tool and informa-tion resource available exclusively to central banks, supervisory authorities, deposit insurers and eligible public sector authorities . It offers a comprehensive range of tutorials in banking and insurance, covering the latest prudential policy releases as well as guid-ance on implementation and supervisory techniques . It is available by subscription . For further information, please see the section “How Do I Access the FSI’s Services” on page 41 .

Combining Events and FSI ConnectAs described above, the FSI offers a broad range of events and tutorials . Our Programme has been developed to respond to the needs of supervisors, and participants may find it beneficial to draw from a combination of the FSI’s product offerings . If a par-ticipant’s level of understanding does not match the specialist level of our seminars, we offer the possibil-ity to complete FSI Connect tutorials before attend-ing an event in order to better assimilate the content of the seminar . Additionally, where seminar attend-ance motivates participants to learn more about a topic, there is scope to undertake tutorials after the completion of an event .

FSI Fellowship ProgrammeEach year, the FSI offers a limited number of positions to supervisors to participate in the FSI’s fellowship programme. The FSI has very specific selection criteria for candidates to participate in the programme and competition is very strong . A fellowship is typically 90 days in length and gives fellows the opportunity to contribute to the FSI’s seminar programme and/or FSI Connect, as well as work on a specific research or analytical project.

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Overview of 2015 Programme for Financial Sector Supervisors

High-level Meetings and Policy and Implementation Meetings29–30 Jan High-level Meeting for Africa (Cape Town) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89–11 Feb High-level Meeting for Asia (Manila) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .816–17 Jun ASBA: Policy and Implementation Meeting (Mexico) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .824 Jun High-level Meeting for Central and Eastern Europe (Bratislava) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .828–29 Oct High-level Meeting for Latin America (Montevideo) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .88–9 Dec High-level Meeting for the Middle East and North Africa (Abu Dhabi) . . . . . . . . . . . . . . . . . . . . . . .8

Global Seminars in Switzerland for Banking Supervisors27–29 Jan Management and Supervision of Liquidity Risk (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .912 Feb BCBS: Implementation of the Countercyclical Capital Buffer (Basel) . . . . . . . . . . . . . . . . . . . . . . . .921–23 Apr Bank Governance – Sound Practices and Supervision (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103–5 Jun Financial Stability and Stress Testing (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1015–19 Jun 32nd International Banking Supervision Seminar (Beatenberg) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118–10 Sep IADI: Bank Resolution, Crisis Management and Deposit Insurance Issues (Basel) 1114–18 Sep Applied Risk Management – Credit Risk and Asset Securitisation (Beatenberg) . . . .1229 Sep–1 Oct International Accounting and Auditing for Banks (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .122–4 Dec Regulating and Supervising Large Banks (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .138–10 Dec BCBS: Regulatory Consistency Assessment Programme (RCAP)

Assessments and Consistency in Risk-weighted Asset Calculation (Basel) . . . . . . . . . . . .134th quarter Regulation and Supervision of Operational Risk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14

Global Seminars in Switzerland for Insurance Supervisors28–30 Apr Solvency and Capital Standards for Insurers (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .159–11 Jun Insurance Groups, Global Systemically Important Insurers and Resolution (Basel) 155–10 Jul Applied Risk Management Techniques and Internal Models (Beatenberg) . . . . . . . . . . . . .16

Virtual Seminars for Insurance Supervisors17 Aug–25 Nov FSI-IAIS Regulatory and Supervisory Online Programme (Virtual Seminar) . . . . . . . . . . .17

Regional Seminars for Banking Supervisors16–19 Mar SEACEN: Stress Testing in Supervision and Risk Management (Bangkok) . . . . . . . . . . . .1817–19 Mar CGBS: Problem Bank Supervision and Early Intervention (Kingston) . . . . . . . . . . . . . . . . . . . . .1817–19 Mar ESE: New Approaches to Achieve Consistency in Risk-weighted Asset

Calculation (Berlin) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1824–26 Mar AMF: Basel III and Macroprudential Policies (Abu Dhabi) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1930 Mar–2 Apr GCC: Regulating and Supervising Systemic Banks (Muscat) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1921–23 Apr ASBA: Basel III and the New Standardised Approaches (Santiago de Chile) . . . . . . . . .1921–23 Apr EBA: Basel III and CRD/CRR – Latest Developments and Implementation

Challenges (London) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .205–7 May BSCEE: Basel III and the New Standardised Approaches (Prague) . . . . . . . . . . . . . . . . . . . . . . .2012–14 May SEANZA: Liquidity Risk Management and Supervision (Macao) . . . . . . . . . . . . . . . . . . . . . . . . . . . .20

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AITRI: ASEAN Insurance Training & Research InstituteAMF: Arab Monetary Fund

ASBA: Association of Supervisors of Banks of the AmericasASSAL: Asociación de Supervisores de Seguros de América LatinaBCBS: Basel Committee on Banking SupervisionBSCEE: Group of Banking Supervisors from Central and Eastern Europe

BSP: Bangko Sentral ng PilipinasCEMLA: Center for Latin American Monetary StudiesCGBS: Caribbean Group of Banking SupervisorsEBA: European Banking Authority (formerly CEBS)EMEAP: Executives’ Meeting of East Asia-Pacific Working Group on

Banking SupervisionESE: European Supervisor Education Initiative

GCC: Gulf Cooperation Council Committee of Banking Supervisors

GIFCS: Group of International Finance Centre SupervisoryIADI: International Association of Deposit InsurersIAIS: International Association of Insurance SupervisorsIOSCO: International Organization of Securities CommissionsMEFMI: Macroeconomic and Financial Management Institute of Eastern and Southern AfricaSADC: Southern African Development CommunitySEACEN: South East Asian Central BanksSEANZA: Central Banks of South East Asia, New Zealand and Australia Forum of Banking Supervisors

19–21 May CEMLA: Regulating and Supervising Systemically Important Banks and Non-bank Financial Institutions (Bogotá) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21

23–25 Jun EMEAP: Stress Testing – Supervisory Techniques and Bank Practices (Hong Kong) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21

25–27 Aug SEANZA: Regulation and Supervision of Systemically Important Banks (Mumbai) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

29 Sep–1 Oct CEMLA: Financial Stability Assessment and Implementation of Macroprudential Tools (Mexico City) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22

6–8 Oct SADC: Operationalising Macroprudential Tools (Pretoria) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2313–15 Oct BSP: Policy and Implementation Forum on Current Issues in Banking

Supervision (Manila) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .233–5 Nov EMEAP: Latest Developments from the Basel Committee (Bali) . . . . . . . . . . . . . . . . . . . . . . . . . . . . .234 Nov GIFCS: Supervising Systemically Important Banks from a Host

Perspective (Macao) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2417–19 Nov AMF: Supervision of Large Banks (Abu Dhabi) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2424–26 Nov ASBA: Capital, Risk-weighted Asset Calculation and Consistent

Implementation (Brasilia) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2424–26 Nov MEFMI: Basel III and Macroprudential Surveillance (Arusha) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

Regional Seminars for Insurance Supervisors24–26 Mar IAIS: Detecting and Managing Risks of Insurance Entities and Groups (Tunis) . . . . . .2626–28 May ASSAL/IAIS: Reinsurance and Other Forms of Risk Transfer (Bogotá) . . . . . . . . . . . . . . . . . .2625–27 Aug AITRI/IAIS: Supervision of Insurers’ Enterprise Risk Management (tbd) . . . . . . . . . . . . . . . . .276–8 Oct IAIS: Risk-based Supervisory Practices and Early Intervention (Bratislava) . . . . . . . . . . .2727–29 Oct IAIS: Supervision of Insurance Entities and Groups, Focusing on Life

Insurance (Nanyuki) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28

Cross-sectoral Seminars18–20 Nov IOSCO: Trading Book, Market Infrastructure and the Culture of

Compliance (Basel) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29

Note: For the latest information, including any updates to the programme, please refer to the overview at: www.bis.org/fsi/activities.htm

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Hig

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tings High-level Meetings

Jointly with the Basel Committee on Banking Supervision (BCBS) and the relevant regional group29–30 January 2015, Cape Town, South Africa (for Africa)9–11 February 2015, Manila, Philippines (for Asia)24 June 2015, Bratislava, Slovakia (for Central and Eastern Europe)28–29 October 2015, Montevideo, Uruguay (for Latin America)8–9 December 2015, Abu Dhabi, United Arab Emirates (for the Middle East and North Africa)

ObjectiveThe Basel Committee on Banking Supervision and the FSI, in conjunction with relevant regional groups, will conduct high-level meetings for heads of banking supervision and senior supervi-sors on recent developments in financial markets and supervisory responses. The objectives of these meetings are to discuss regulatory and supervisory policy issues, exchange information and share experiences .

NoteBy invitation only

Policy and Implementation Meetings16–17 June 2015, Mexico City, Mexico (jointly with the Association of Supervisors of Banks of the Americas, ASBA)

ObjectiveThe FSI in conjunction with relevant regional groups will organise policy and implementation meetings for senior central bankers and supervisory authorities in charge of the regulatory and supervisory departments responsible for the local implementation of international banking stand-ards. These meetings target specific aspects of the financial regulatory reforms from both techni-cal and practical application perspectives .

NoteBy invitation only

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sorsManagement and Supervision of Liquidity Risk

27–29 January 2015, Basel, Switzerland

Maximum number of participants: 45

ObjectiveBasel III introduces a new global framework for liquidity regulation in addition to revamping the existing rules for bank capital . The liquidity framework comprises the Liquidity Coverage Ratio (LCR), which requires banks to hold sufficient high-quality liquid assets to survive a 30-day stress period, and the Net Stable Funding Ratio (NSFR), a structural metric for liquidity . This seminar offers participants from central banks and financial sector supervisory authorities an opportunity to share and deepen their knowledge on the application of the new framework . The seminar will cover implementation aspects and how the new regulations may impact central banks’ current operational frameworks and payment systems .

Main topics covered

• Liquidity risk and asset-liability management• Net Stable Funding Ratio (NSFR) • Liquidity Coverage Ratio (LCR)• Sound principles• Implementation challenges• Case study

Implementation of the Countercyclical Capital BufferJointly with the Basel Committee on Banking Supervision (BCBS)12 February 2015, Basel, Switzerland

ObjectiveWith the Countercyclical Capital Buffer (CCB) scheduled for implementation on 1 January 2016, this event will focus on practical implementation issues of interest to practitioners and policymak-ers . Particular emphasis will be put on discussing and drawing lessons from the actual experience of authorities around the world in implementing the CCB .

Main topics covered

• Analytical frameworks governing calibration, activation and release of the CCB• Decision-making, coordination and communication of the CCB requirement• Jurisdictional reciprocity• Interaction between the CCB and other policy tools

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Bank Governance – Sound Practices and Supervision21–23 April 2015, Basel, Switzerland


ObjectiveEffective corporate governance is critical to the proper functioning of the banking sector and the economy as a whole. While there is no single approach to good corporate governance, the Committee’s revised principles provide a framework within which banks and supervisors should operate to achieve robust and transparent risk management and decision-making and, in doing so, promote public confidence and uphold the safety and soundness of the banking system.

Main topics covered

• Role of the board of directors and senior management • Risk governance and importance of a sound risk culture • Compensation systems • Emerging bank supervisory practices to promote effective bank governance

Financial Stability and Stress Testing3–5 June 2015, Basel, Switzerland


ObjectiveThe stability of financial systems is a determining factor in the sound functioning of the real economy . Stress testing has become a widespread and important tool for assessing the stability of financial systems and the safety and soundness of individual financial institutions. The semi-nar will highlight various techniques related to assessing the vulnerabilities of financial systems. Stress testing techniques will be discussed on a micro and macro level, and from both private and public sector perspectives. Participants from central banks and financial sector supervisory authorities will have an opportunity to share and deepen their knowledge of the current chal-lenges in safeguarding financial stability.

Main topics covered

• Financial stability analysis and surveillance at central banks• Financial stability aspects of Basel III• Stress tests for identifying vulnerabilities in banks and financial systems• Case study

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15–19 June 2015, Beatenberg, Switzerland


ObjectiveThe Basel Committee on Banking Supervision has undertaken several initiatives to address the issues observed during the recent financial crisis. The objective of the seminar is to broaden participants’ understanding of these initiatives and other core supervisory issues and promote an exchange of views and ideas on the latest developments in banking supervision . The focus will be not only on the conceptual aspects of the Basel standards but also on the practical issues relating to their implementation . The programme is aimed at mid- to senior-level management and other professional staff of supervisory agencies or central banks .

Main topics covered

• Revised Core Principles for Effective Banking Supervision• Bank governance • Basel III and its implementation• Simplicity, comparability and risk-sensitivity• Credit, market, liquidity and operational risk management• Case studies

Bank Resolution, Crisis Management and Deposit Insurance IssuesJointly with the International Association of Deposit Insurers (IADI)8–10 September 2015, Basel, Switzerland


ObjectiveThe crisis highlighted the need for a well-functioning deposit insurance scheme as well as a proper resolution framework for banks . This seminar will present the different approaches that have been developed in response to the crisis to facilitate the effective resolution of banks with-out disrupting the broader financial system. The seminar will place particular importance on the Financial Stability Board’s work related to the Key Attributes of Effective Resolution Regimes (from a bank perspective) and on the efforts of IADI related to implementing the Core Principles for Effective Deposit Insurance Systems .

Main topics covered

• Key Attributes of Effective Resolution Regimes for Financial Institutions • Experience in implementing recovery and resolution plans and bail-in requirements• Total loss absorbency capacity (TLAC) • Experience implementing the Core Principles for Effective Deposit Insurance Systems

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Applied Risk Management – Credit Risk and Asset Securitisation14–18 September 2015, Beatenberg, Switzerland


ObjectiveThe risk management frameworks and risk governance of banks have undergone a fundamental change after the recent financial crisis. One thing that remains largely unchanged, however, is that credit risk remains at the core of banks’ risk . Participants will gain a comprehensive view of the measurement of credit risk as well as issues related to asset securitisation . The seminar will focus on implementation aspects of credit risk management using case studies, especially in the context of the latest regulatory changes following the publication of Basel III .

Main topics covered

• Credit risk management and modelling techniques• Asset securitisation: structures and risk assessment• Counterparty credit risk• Implementation aspects of Basel III NoteParticipants will use Microsoft Excel spreadsheet exercises to review and discuss various mod-els . Participants will need a laptop to take part in the computer-based exercises .

International Accounting and Auditing for Banks29 September–1 October 2015, Basel, Switzerland


ObjectiveA key precondition for effective banking supervision is comprehensive and well-defined account-ing standards. Weaknesses in accounting standards and their implementation, particularly those dealing with financial instruments, were a significant contributor to the recent financial crisis. This seminar will explore the most important accounting issues relevant to banks from a supervisory perspective, with a particular focus on the IASB’s new standard on expected loan loss provision-ing and the regulatory, supervisory, risk management and auditing challenges associated with its robust implementation . The supervisory implications associated with the interaction among Basel III, fair value accounting and the increased convergence between accounting and regula-tory frameworks will also be discussed .

Main topics covered

• Classification and measurement• Loan impairment and provisioning• Basel Committee guidance on expected loss provisioning• Interaction between accounting and regulatory frameworks• Internal and external audits in financial institutions

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sorsRegulating and Supervising Large Banks

2–4 December 2015, Basel, Switzerland


ObjectiveOne of the key lessons learnt from the recent financial crisis is that systemically important banks (SIBs) can create problems not only for the financial sector but also for the real sector. The objective of this seminar is to share the latest work of standard setters and supervisory authorities around the world to promote more effective and intensive supervision of domestic and global SIBs . This seminar will put particular emphasis on the sharing of practices and experience in supervising SIBs .

Main topics covered

• Assessment methodology for global SIBs• Framework for dealing with domestic SIBs• Effective and intensive supervision of SIBs • Resolving large banks and the role of total loss absorbency capacity (TLAC)

Regulatory Consistency Assessment Programme (RCAP) and Consistency in Risk-weighted Asset (RWA) CalculationJointly with the Basel Committee on Banking Supervision (BCBS)8–10 December 2015, Basel, Switzerland


ObjectiveConsistency in the adoption and implementation of Basel standards is critical to improving the resilience of the global banking system, promoting public confidence in reported prudential ratios and providing for a predictable and transparent regulatory environment for internationally active banks . The Basel Committee has set as a high priority the full and effective implementation of Basel standards within the globally agreed time frame . The seminar presents the objectives, processes and means of the RCAP, adopted by the Basel Committee in 2012 . It further discusses the complementary thematic assessments that examine banks’ implementation of the Basel requirements, the goals of which are to ensure that RWAs and prudential ratios are calculated consistently by banks across jurisdictions and to improve comparability across outcomes .

Main topics covered

• RCAP objectives, processes and outcomes• Thematic studies on RWA variability in the banking book and in the trading book• Presentation of recent cases• Case study

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Regulation and Supervision of Operational Risk4th quarter 2015, Basel, Switzerland


ObjectiveOperational risk management has experienced significant challenges and developed consider-ably in recent years . In response, the Basel Committee has released a revised standardised approach for measuring operational risk capital, which will replace the current non-model-based approaches comprising the Basic Indicator Approach (BIA) and the Standardised Approach (TSA) . In addition, internationally active banks are expected to implement policies, procedures and practices for managing operational risk commensurate with their size, complexity, activities and risk exposure following the Principles for the Sound Management of Operational Risk (2011) . The principles embody the lessons learned from the financial crisis and evolving sound practice in operational risk management . The event will provide a forum to discuss both areas in greater detail .

Main topics covered

• Revised standardised approach for measuring operational risk capital• Principles for the Sound Management of Operational Risk• Key findings and observations from the review of the Principles for the Sound Management

of Operational Risk• Practical implementation challenges

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Solvency and Capital Standards for Insurers28–30 April 2015, Basel, Switzerland


ObjectiveSolvency assessment is essential to risk-based supervision . This seminar explains the interna-tional standards of the International Association of Insurance Supervisors in this domain, including the latest work related to internationally active insurance groups (IAIGs) and global systemically important insurers (G-SIIs) . It provides examples of solvency regimes in selected jurisdictions and how supervisors can assess the capital adequacy of insurance legal entities and groups .

Main topics covered

• Global insurance capital standards: Insurance Capital Standard for IAIGs, Basic Capital Requirements and Higher Loss Absorbency for G-SIIs

• Assessing compliance with ICP 17 – Capital Adequacy• Existing capital requirements and examples from different solvency regimes • Valuation of technical provisions and the latest developments on IFRS 4 – Insurance

Contracts

Insurance Groups, Global Systemically Important Insurers (G-SIIs) and Resolution9–11 June 2015, Basel, Switzerland


ObjectiveMany insurance groups are large and complex, with activities in many countries . This gives rise to specific challenges for supervisors. The focus of this seminar is on the latest standard setting activities of the International Association of Insurance Supervisors related to insurance groups and systemic risk . It covers the core supervisory tools needed for undertaking group-wide super-vision and the latest developments in cross-border resolution . Home and host supervisory issues will form part of this seminar, highlighting that the supervisory perspective will be different depend-ing on whether the supervised entity is the parent company or a subsidiary .

Main topics covered

• Three layers of group-wide supervision: insurance groups, internationally active insurance groups and G-SIIs

• Supervisory issues related to insurance groups and financial conglomerates• Criteria for identifying G-SIIs and supervising insurers belonging to such groups • Recovery and resolution of cross-border operations

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ObjectiveThis seminar is aimed at insurance supervisory staff with a quantitative background . Using actual internal models, participants will learn how internal models are constructed, uses of internal mod-els and limitations of the model results . This seminar assumes a general understanding of basic statistical and mathematical concepts .

Main topics covered

• International supervisory standards on internal models• Supervisory validation of internal models• Economic capital modelling• Practical exercises on market risk and life and non-life underwriting risks• Non-linear correlations and aggregating risks with copulas NoteParticipants will use Microsoft Excel spreadsheet exercises to review and discuss various mod-els . Participants will need a laptop to take part in the computer-based exercises .


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Online New Entrants (FIRST ONE) ProgrammeJointly with the International Association of Insurance Supervisors (IAIS)Virtual Seminar – a series of webinars during 17 August–25 November 2015


ObjectiveThe FIRST ONE programme is aimed at entry-level and experienced professionals who are new to insurance supervision . Participants will be exposed to the key elements of insurance supervision in a structured programme that combines web-based FSI Connect tutorials and live webinars . At the end of the programme, participants will gain a basic understanding of insurance supervision .

Main topics covered

• Roles and powers of insurance supervisors• Risk management• Capital adequacy• Corporate governance • Conduct of business • Supervisory tools and techniquesNoteEach participant must have an FSI Connect license to join the programme . Licences can be obtained through the IAIS or the FSI .

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Stress Testing in Supervision and Risk ManagementJointly with the South East Asian Central Banks (SEACEN) Centre 16–19 March 2015, Bangkok, Thailand

Main topics covered

• The role of macro stress tests in financial stability frameworks • Design and implementation of macro stress tests • Supervisory responses to the risks identified in macro stress tests• Stress testing in risk management and capital planning in a bank• Supervisory review of banks’ stress testing frameworks • Case study

Problem Bank Supervision and Early InterventionJointly with the Caribbean Group of Banking Supervisors (CGBS)17–19 March 2015, Kingston, Jamaica

Main topics covered

• Supervisory intensity and effectiveness• Early warning indicators, identification of root causes and appropriate solutions• Supervisory review of risk culture as well as board and senior management oversight• Enforcement actions• Case study

New Approaches to Achieve Consistency in Risk-weighted Asset (RWA) CalculationJointly with the European Supervisor Education Initiative (ESE)17–19 March 2015, Berlin, Germany

Main topics covered

• New standardised methods of Basel • Regulatory Consistency Assessment Programme (RCAP)• Basel disclosure regime• Treatment of interest rate risk in the banking book• Case study


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sorsBasel III and Macroprudential Policies

Jointly with the Arab Monetary Fund (AMF)24–26 March 2015, Abu Dhabi, United Arab Emirates

Main topics covered

• Key elements of Basel III• Countercyclical prudential tools• Policy framework for systemically important banks • Governance arrangements for implementing macroprudential policy

Regulating and Supervising Systemic BanksJointly with the Gulf Cooperation Council Committee of Banking Supervisors (GCC)30 March–2 April 2015, Muscat, Oman

Main topics covered

• Policy framework for global systemically important banks (G-SIBs)• Implementing a framework for domestic systemically important banks (D-SIBs)• Supervisory intensity, balance sheet analysis and supervisory effectiveness • Recovery and resolution planning • Cross-border issues

Basel III and the New Standardised ApproachesJointly with the Association of Supervisors of Banks of the Americas (ASBA)21–23 April 2015, Santiago, Chile

Main topics covered

• Basel III and its implementation• Standardised approach for credit risk• Standardised approaches for market and operational risks• Current implementation challenges• Case study

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Basel III and CRD/CRR – Latest Developments and Implementation ChallengesJointly with the European Banking Authority (EBA)21–23 April 2015, London, United Kingdom

Main topics covered

• Current policy development priorities of the Basel Committee• Total loss absorbing capacity (TLAC)• Supervision and implementation• Revisions to the securitisation framework• Net Stable Funding Ratio (NSFR)• New standardised approach for credit risk – case study

Basel III and the New Standardised ApproachesJointly with the Group of Banking Supervisors from Central and Eastern Europe (BSCEE)5–7 May 2015, Prague, Czech Republic

Main topics covered

• Basel III and its implementation• Standardised approach for credit risk• Standardised approaches for market and operational risks• Current implementation challenges• Case study

Liquidity Risk Management and SupervisionJointly with the Central Banks of South East Asia, New Zealand and Australia (SEANZA) Forum of Banking Supervisors12–14 May 2015, Macao

Main topics covered

• Net Stable Funding Ratio (NSFR)• Liquidity Coverage Ratio (LCR) – early implementation experience and impact on banks• Managing liquidity risk from a bank’s perspective• Supervisory frameworks for assessing liquidity risk management in banks• Case study


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Important Banks and Non-bank Financial InstitutionsJointly with the Center for Latin American Monetary Studies (CEMLA)19–21 May 2015, Bogotá, Colombia

Main topics covered

• Assessment methodology for global systemically important banks (SIBs)• Framework for dealing with domestic SIBs• Policy measures to deal with systemic non-bank financial institutions• Supervisory intensity framework for dealing with systemic financial institutions• Case study

Stress Testing – Supervisory Techniques and Bank PracticesJointly with the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) Working Group on Banking Supervision23–25 June 2015, Hong Kong

Main topics covered

• The role of macro stress tests in financial stability frameworks • Design and implementation of macro stress tests • Supervisory responses to the risks identified in macro stress tests• Stress testing in risk management and capital planning in a bank• Supervisory review of banks’ stress testing frameworks • Case study

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Regulation and Supervision of Systemically Important BanksJointly with the Central Banks of South East Asia, New Zealand and Australia (SEANZA) Forum of Banking Supervisors25–27 August 2015, Mumbai, India

Main topics covered

• International framework for global systemically important banks (G-SIBs)• Implementing a framework for domestic systemically important banks (D-SIBs)• Supervisory intensity and effectiveness• Resolution frameworks for SIBs, including recovery and resolution planning • Financial conglomerates and systemic importance

Financial Stability Assessment and Implementation of Macroprudential ToolsJointly with the Center for Latin American Monetary Studies (CEMLA)29 September–1 October 2015, Mexico City, Mexico

Main topics covered

• Financial stability analysis and surveillance at central banks• Financial stability aspects of Basel III• Designing macroprudential tools – conceptual aspects• Countercyclical toolkit and recent experiences• Stress tests for identifying vulnerabilities in banks and financial systems• Case study


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Jointly with the Southern African Development Community (SADC)6–8 October 2015, Pretoria, South Africa

Main topics covered

• Designing macroprudential tools – conceptual aspects• Countercyclical toolkit and recent experiences• Governance arrangements for implementing macroprudential policies• Case study

Policy and Implementation Forum on Current Issues in Banking SupervisionJointly with Bangko Sentral ng Pilipinas 13–15 October 2015, Manila, Philippines

Main topics covered

• Systemic risk assessment • Regional experience with macroprudential tools and policy instruments • Latest developments in microprudential regulation and supervision • Expected loss approach to loan loss provisioning and other initiatives to mitigate procyclicality • Financial infrastructure and intraday liquidity

Latest Developments from the Basel CommitteeJointly with the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) Working Group on Banking Supervision3–5 November 2015, Bali, Indonesia

Main topics covered

• Net Stable Funding Ratio• Interest rate risk in the banking book• Revisions to the standardised approaches in the Basel capital framework• Macroprudential orientation of post-crisis regulatory reforms • Implementation challenges

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Supervising Systemically Important Banks from a Host PerspectiveJointly with the Group of International Finance Centre Supervisory (GIFCS)4 November 2015, Macao

Main topics covered

• Basel Committee framework for domestic systemically important banks (D-SIBs)• The implications of enhanced supervisory expectations for host jurisdictions• Key attributes for effective resolution of SIBs• Resolution frameworks and recovery and resolution planning from a host perspective

Supervision of Large Banks Jointly with the Arab Monetary Fund (AMF)17–19 November 2015, Abu Dhabi, United Arab Emirates

Main topics covered

• The Basel policy framework for supervising large banks • Implementing a framework for domestic systemically important banks (D-SIBs)• Supervisory intensity and effectiveness • Recovery and resolution planning • Cross-border issues• Case study

Capital, Risk-weighted Asset (RWA) Calculation and Consistent ImplementationJointly with the Association of Supervisors of Banks of the Americas (ASBA)24–26 November 2015, Brasilia, Brazil

Main topics covered

• Basel III and its implementation• Regulatory Consistency Assessment Programme (RCAP) – objectives, processes and

outcomes• Thematic studies on RWA variability in the banking book and in the trading book• Case study


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sorsBasel III and Macroprudential Surveillance

Jointly with the Toronto Centre and the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)24–26 November 2015, Arusha, Tanzania

Main topics covered

• Basel III and its implementation• Leverage ratio• Regulation and supervision of systemically important banks (SIBs)• Macroprudential policy frameworks and instruments • Case study

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Detecting and Managing Risks of Insurance Entities and GroupsJointly with the International Association of Insurance Supervisors (IAIS)For Supervisors from the Middle East and North Africa24–26 March 2015, Tunis, Tunisia

Main topics covered

• Risk-based supervision and solvency assessment of insurers belonging to groups• Enterprise risk management and the role of the supervisor in assessing its effectiveness• Intragroup transactions and risk concentrations at group level• Risk governance and internal controls

Reinsurance and Other Forms of Risk TransferJointly with the Asociación de Supervisores de Seguros de América Latina (ASSAL) and the International Association of Insurance Supervisors (IAIS)For Supervisors from Latin America26–28 May 2015, Bogotá, Colombia

Main topics covered

• Traditional reinsurance products and alternative risk transfers• Insurance linked securities, in particular catastrophe bonds• Enterprise risk management • Supervision of reinsurers and direct insurers’ reinsurance arrangements in practice


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Supervision of Insurers’ Enterprise Risk ManagementJointly with the ASEAN Insurance Training & Research Institute (AITRI) and the International Association of Insurance Supervisors (IAIS)For Supervisors from Asia25–27 August 2015, tbd

Main topics covered

• Global standards and national regulatory requirements for enterprise risk management• Insurers’ own risk and solvency assessment (ORSA) and its supervisory relevance • Risk identification and quantification, including stress and scenario analysis • Qualitative assessment of risks

Risk-based Supervisory Practices and Early InterventionJointly with the International Association of Insurance Supervisors (IAIS)For Supervisors from Central and Eastern Europe, Transcaucasia and Central Asia6–8 October 2015, Bratislava, Slovakia

Main topics covered

• Supervisory review and reporting – global standards and national practices• Risk management, corporate governance and internal controls• Early detection of problems, and preventive and corrective supervisory measures• Financial Sector Assessment Programmes (FSAPs) and the Insurance Core Principles

(ICPs) – self-assessement and peer reviews

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Supervision of Insurance Entities and Groups, Focusing on Life InsuranceJointly with the International Association of Insurance Supervisors (IAIS)For Supervisors from Africa27–29 October 2015, Nanyuki, Kenya

Main topics covered

• Life insurance supervision: understanding life insurance products and their risk profile, and ensuring adequate product disclosure to policyholders

• Supervision of insurance groups and financial conglomerates: home and host supervisory responsibilities, and cooperation in colleges

• Corporate governance, including specific group issues

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Trading Book, Market Infrastructure and the Culture of ComplianceJointly with the International Organization of Securities Commissions (IOSCO)18–20 November 2015, Basel, Switzerland

Main topics covered

• Trading book regulation and supervision• Market infrastructure for trading activities• Trade reporting and clearing of derivatives• Elements of a culture of compliance• Governance and compensation arrangements• Case study

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FSI Connect FSI Connect is an online learning tool and informa-tion resource for central banks, supervisory author-ities, deposit insurers and eligible public sector authorities . Available by subscription, FSI Connect offers a comprehensive range of tutorials directly related to financial sector supervision, reflecting the most up-to-date information . More than 250 organi-sations from 147 countries currently subscribe to FSI Connect, providing access to over 10,000 licensed users . As such, numerous authorities have found FSI Connect to be a valuable and cost-effective tool to build institutional capacity and a useful comple-ment to their own in-house training programmes .

Extensive CoverageFSI Connect offers over 250 tutorials on banking and insurance supervision, accounting, deposit insurance, resolution, and other areas of interest to central banks and supervisory authorities . The top-ics covered include capital adequacy and solvency, including Basel I, Basel II, Basel III and the global insurance capital standards being developed by the International Association of Insurance Supervisors (IAIS); key risks, such as credit, liquidity, market, operational and insurance risks, and their manage-ment; various accounting issues relevant for bank-ing and insurance supervisors; and other areas of supervisory interest, such as the core principles for effective banking and insurance supervision, macro-prudential supervision, and the identification and resolution of problem institutions . You can review the complete syllabus on pages 32 to 34 .

The syllabus reflects continued progress in the devel-opment of tutorials aimed specifically at the insur-ance supervisory community . At the end of 2014, FSI Connect offered 48 insurance tutorials, and many more will be added in 2015 . Insurance supervisors will also find that much of the banking-related con-tent in FSI Connect is as relevant to them as it is to banking supervisors .

Dynamic ContentFSI Connect tutorials incorporate the most current information that supervisors need to perform their jobs . New tutorials are added continuously, and the content of existing tutorials is reviewed periodically to ensure it remains accurate and up to date .

Interactive MethodologyFSI Connect employs a four-phase integrated learn-ing methodology called OCCE – Orientate, Commu-nicate, Connect and Evaluate . The tutorials use a mix of text, audio, graphics and interactive elements (such as quizzes, exercises and simulations) to moti-vate learners and promote a high level of knowl-edge retention . FSI Connect also makes ample use of case studies and real-life examples to reinforce key concepts, with a focus on enhancing the sound supervisory judgement needed for effective super-vision . This practical guidance is an effective tool in bridging the gap between theory and practice and helps learners to apply their knowledge .

Integrated LearningFSI Connect can – and should – be integrated with other forms of learning such as seminars, work-shops and classroom sessions . Since FSI Connect is available anytime, anywhere, it can also support on-the-job training initiatives . The FSI integrates FSI Connect tutorials with its own seminars by offering participants access to specific tutorials prior to an event . This gives participants the opportunity to pre-pare for seminars and helps ensure all participants have a sufficient understanding of the basic con-cepts .

An Indispensable ResourceFSI Connect provides important support to supervi-sors in their day-to-day work . Many supervisors use FSI Connect as a valuable reference tool . By brows-ing the extensive list of available FSI Connect tuto-rials and using the index tool included in each one, users can quickly and easily access information on a wide range of topics and terms . Since FSI Connect is accessible through the internet, the relevant infor-mation is never far away .

Flexible LearningFSI Connect is a useful tool for supervisors at all lev-els . Those new to the job who need to gain a broad knowledge of supervisory topics might use the FSI’s fundamental level tutorials to plan their course of study. FSI Connect is also sufficiently flexible that more experienced supervisors who would like to refresh or deepen their knowledge of specific topics can review the relevant tutorials without having to complete the recommended prerequisites .

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Cost-effectivenessMany supervisory authorities and central banks are currently evaluating their staff development requirements in light of the introduction of new regulatory and supervisory standards arising from the recent financial crisis, including Basel III. Oth-ers are focused on achieving compliance with the recently revised Basel and Insurance Core Princi-ples, in order to strengthen the foundation for effec-tive supervision . FSI Connect tutorials offer a ready-made solution that many organisations around the world have already successfully integrated into their existing training programmes as part of their broader efforts in raising the bar for sound supervision .

FSI Connect fees are modest and represent a frac-tion of the cost of similar products . FSI Connect represents an effective means of managing training costs, particularly when compared with the typical cost of attending seminars and conferences .

FSI Connect requires very little in terms of admin-istration from subscribing institutions . At the same time, however, FSI Connect offers strong adminis-trative capabilities that allow line managers or train-ing professionals to monitor and track staff usage and progress .

New Content Planned for 2015The following is just a sample of the new tutorials we will be looking to release in 2015:

• Net Stable Funding Ratio

• IFRS 9: Loan Impairment

• Identifying and Dealing with Weak Banks

• External Audit in Banks

• Standardised Approach to Counterparty Credit Risk

• G-SIIs – Basic Capital Requirements

On an ongoing basis, in addition to developing new content, we will continue our efforts to update a range of regulatory and supervisory-related tutorials, as necessary, to reflect the related guidance from the Basel Committee and the IAIS. We will also selec-tively develop new content based on recent guid-ance from the Financial Stability Board, the Inter-national Association of Deposit Insurers and the International Accounting Standards Board that are particularly important for banking and insurance supervisors .

In recent years, the international standard setters have increasingly emphasised the effective imple-mentation of the regulatory and supervisory stand-ards they develop . Consequently, going forward, we will continue to complement our extensive suite of tutorials on the standards with more content on the practice of supervision – that is, a series of tutorials that highlight the day-to-day challenges of front-line supervisors, covering various elements of the super-visory review process .

Changes to the FSI Connect Website and Online Syllabus Planned for 2015Work is underway to upgrade the FSI Connect website and to improve the presentational layout of our online syllabus . These changes are being made in order to provide our subscribers with a more user-friendly approach to navigating the FSI Connect website and for accessing our comprehensive suite of tutorials . As part of this initiative, we are developing “learning paths” to provide our users and local administrators with a mechanism to better tailor the learning at the individual user level. We anticipate that the upgraded website and reorganisation of the online syllabus will become operational in the second half of 2015 .

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FSI Connect TutorialsCapital and Related Basel Standards

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Bank Capital ■ ∆Basel I ■ ∆Basel I – A Case Study ■Basel II – An Overview ■ ∆ ●Basel III – An OverviewDefinition of Regulatory CapitalRegulatory Capital Adjustments under Basel IIIScope of Application ■Leverage RatioLarge Exposures StandardExternal Credit Risk Assessments ■ *Standardised Approach – External Credit Assessments ■ *Standardized Approach – Risk Weight Framework ■Overview of Credit Risk Mitigation ■ * ●Basel II – Operational Risk – BIA & SA ■ *Simplified Standardized Approach – Risk Weight Framework ■ ●Regulation of Market Risk – Standardised Approach ■ ●Pillar 2 – Supervisory Review Process ■ ●Pillar 3 – Market Discipline – Part 1 ■ ●Pillar 3 – Market Discipline – Part 2 ■ ●

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Capital Conservation and Countercyclical BuffersGSIBs – Identification and Systemic Capital SurchargeIRB – Credit Risk Components ■ *IRB – An Introduction ■CRM – Collateral & Netting ■ ●CRM – Guarantees & Credit Derivatives ■ ●Securitization and Regulatory Capital – An OverviewCounterparty Credit Risk – An Introduction *Implementation of the Basel Capital Framework – An Overview ■ ●Basel Capital Framework – Cross-border Implementation ■Stress Testing Requirements of the Basel Capital Framework ■ ●Management of Regulatory Capital

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IRB – Overview of Minimum Requirements ■Basel II – IRB – Underlying Math and Theory ■IRB for Corporates, Banks & Sovereigns ■IRB – Retail Exposures ■IRB for Specialised Lending ■IRB for Equity Exposures ■IRB for Purchased Receivables ■IRB – Supervisory Validation ■Securitization – Operational Requirements ■Securitization Framework ■Securitization – Special Features ■IRB – Securitization – A Case StudyBasel II – Operational Risk – AMA ■ *Regulation of Market Risk – Internal Models Approach ■Enhancements to the Market Risk Capital Requirements *Economic Capital & RAROC – An Introduction ■Economic Capital & RAROC – Approaches & Allocation ■

Credit Risk

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Credit Risk in the Loan Portfolio – An Introduction ●The Credit Risk Environment ●Credit Granting & Administration ●Credit Analysis – An IntroductionAccounts Receivable & Inventory Financing ∆Country Risk ●Claims on Sovereigns & Government EntitiesClaims on Banks & Securities FirmsCommercial LoansAgricultural LoansRetail CreditReal Estate LoansPrinciples for Sound Residential Mortgage Underwriting PracticesTrade FinanceBanks’ Internal Rating Systems ■ ●Loan Grading ●Supervisory Credit Classification ∆ ●Loan Loss Provisioning – An Introduction ∆ ●Managing Problem Loans ∆ ●External Credit Risk AssessmentsBasel II – SA – External Credit Risk Assessments

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IRB – Credit Risk Components ●Credit Derivatives – An Introduction ●Credit Derivatives – Types ●Credit Derivatives – Uses & ApplicationsCredit Derivatives – Pricing MethodsCredit Derivatives – Credit Default SwapsCredit Derivatives – Basket Default SwapsCredit Derivatives – Total Rate of Return SwapsResecuritizationsSecuritization – An Introduction ●Securitization – Asset-Backed Securities (ABS) ●Securitization – Credit Card ABSSecuritization – Mortgage-Backed Securities (MBS) ●Securitization – European Mortgage-Backed SecuritiesSecuritization – Commercial Mortgage-Backed SecuritiesSecuritization – CDOs – An IntroductionSecuritization – CDOs – Structures & RatingsCredit Risk TransferLoan Loss Provisions – Types ∆ ●Loan Loss Provisioning – Methodology ∆ ●Stress Testing – Credit Risk

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Credit Risk Modeling – An IntroductionCredit Risk Modeling – CreditMetricsCredit Risk Modeling – CreditRisk+Credit Risk Modeling – KMV & Comparison of ModelsCredit Derivatives – CDS IndexesCredit Derivatives – Synthetic CDOsStatistics for Credit Rating Models

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Liquidity RiskLiquidity Risk – An IntroductionLiquidity Risk – A Case Study: Northern RockPrinciples for Sound Liquidity Risk Management and SupervisionLiquidity Standards – LCR and NSFRStress Testing – Liquidity

Market Risk

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Financial Markets – An IntroductionBonds – An IntroductionEquities – An IntroductionCommodities – An IntroductionInterest CalculationsTime Value of MoneyCalculusNPV & IRRBond Price & YieldsDuration & ConvexityForwards & Futures – An Introduction ●Options – An Introduction ●Swaps – An Introduction ●VAR – An Introduction ●Market Risk – An IntroductionBasel II – Interest Rate Risk in the Banking Book ■ ●Regulation of Market Risk – Standardised Approach

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Probability ●Distributions & Hypothesis Testing ●Bond Strategies – FundamentalsForwards & Futures – Pricing ●Futures MarketsForwards & Futures – Hedging (Part I) ●Forwards & Futures – Hedging (Part II) ●Forwards & Futures – TradingOptions – Introduction to Option ValuationOptions – Future Asset Prices & VolatilitySwaps – Applications Swaps – Pricing & Valuation (Part I)Swaps – Pricing & Valuation (Part II)Swaps – Currency SwapsCounterparty Credit Risk – An Introduction

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Options – Replication, Risk-Neutrality, & Black-ScholesOptions – Beyond Black-ScholesOptions – Trading StrategiesOptions – Exotic OptionsVAR – Variance-Covariance ApproachVAR – Historical Simulation & Other IssuesVAR – Monte Carlo SimulationRegulation of Market Risk – Internal Models ApproachEnhancements to the Market Risk Capital Requirements

Operational Risk

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Operational Risk – An Introduction ∆ ●Operational Risk Management – Sound Practices ∆ ●Operational Risk – Case StudyBasel II – Operational Risk – BIA & SA ∆

Adv Basel II – Operational Risk – AMA

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Capital ResourcesControl Levels and Supervisory InterventionDynamic Solvency TestingEnterprise Risk Management and Insurer SolvencyInsurance Solvency – An IntroductionInternal Models – An IntroductionLife Insurance Solvency – Country ExampleNon-Life Insurance Solvency – Country ExampleOwn Risk and Solvency AssessmentSolvency II – An Introduction – Part 1Solvency II – An Introduction – Part 2Valuation of Technical Provisions – Life Insurance (Investment Products) – ConceptsValuation of Technical Provisions – Life Insurance (Investment Products) – TechniquesValuation of Technical Provisions – Life Insurance (Protection Products) – ConceptsValuation of Technical Provisions – Life Insurance (Protection Products) – TechniquesValuation of Technical Provisions – Non-Life Insurance – Concepts Valuation of Technical Provisions – Non-Life Insurance – Techniques

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ICPs (Part I) – Overview and Assessment MethodologyICPs (Part II) – Insurance Core Principles, Standards and GuidanceAsset-Liability ManagementConduct of Business in InsuranceFinancial Condition – Analytical Tools – Life Insurance Financial Condition – Analytical Tools – Non-Life Insurance Finite ReinsuranceFraud in InsuranceGroup-wide Supervision of Insurance EntitiesG-SIIs – Assessment MethodologyG-SIIs – Policy MeasuresIFRS 4 – Insurance Contracts #Insurance Accounting – An Introduction #Insurance – Disclosure #Insurance – Licensing IssuesInsurance IntermediariesLife Insurance – Business and RisksMicroinsuranceNon-Life Insurance – Business and RisksOff-Site Supervision – InsuranceOn-site Inspection – InsuranceReinsurance – An IntroductionReinsurance – Supervisory StandardsThe Role of ActuariesSecuritization and Insurance-Linked SecuritiesStress Testing – InsuranceSupervision of Captive InsurersSupervisory Objectives, Powers and Structure – InsuranceTypes of InsuranceUnderwriting Risk – Pricing of Life Insurance ProductsVariable Annuities

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Accounting

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Bank Accounting – An Introduction ●Accounting – Consolidation Issues ●IAS 32 – Financial Instruments: PresentationIFRS 4 – Insurance ContractsIFRS 7 – Financial Instruments: DisclosuresInsurance Accounting – An IntroductionInsurance – Disclosure

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Accounting – Share-Based PaymentsAccounting – Business CombinationsAccounting – SecuritizationIAS 39 – The Fair Value Option and IFRS 13 – Fair Value Measurement ●IAS 39 – Financial Instruments: Recognition & MeasurementIAS 39 – Impairment of Financial AssetsIFRS 9 – Financial Instruments: Recognition and Measurement

Adv IAS 39 – Derivatives and Hedge Accounting

Other Supervisory TopicsBCPs (Part 1) – Overview and Assessment MethodologyBCPs (Part 2) – The 29 Core PrinciplesAnti-Money LaunderingBanks & Bank Risks ∆Bank Licensing ●Business Continuity ManagementCorporate Governance ●Cross-border Bank ResolutionFinancial Conglomerates – Scope and SupervisionFinancial Conglomerates – Supervisory StandardsInformation Technology Supervision ●Internal AuditMacroprudential SupervisionOff-Site Supervision ●On-site Inspection – BankingOutsourcingOver-The-Counter (OTC) Derivatives Market ReformsPrinciples for Sound Compensation PracticesProblem Banks – An Introduction ●Problem Banks – A Case StudyProblem Banks – Corrective Actions and ResolutionRisk-Based Supervision ●Risk Concentrations Risk Data Aggregation and ReportingStress Testing – An IntroductionSupervisory Intensity and EffectivenessToo Big to Fail

Deposit InsuranceDeposit Insurance – An IntroductionCore Principles for Effective Deposit Insurance SystemsDeposit Insurance – Conducting a Core Principles Compliance AssessmentPublic Awareness of Deposit Insurance SystemsDeposit Insurance – Liquidation of Failed Bank AssetsDeposit Insurance – Premiums and Fund ManagementReimbursing Depositors – Part 1Reimbursing Depositors – Part 2Resolution and Bridge Banking

Payment SystemsPayment Systems – An IntroductionLarge-value Payment SystemsPayment Systems – LiquidityPayment Systems – RisksPayment Systems – Oversight ●Settlement of FX TransactionsSecurities Settlement Systems – An IntroductionSecurities Settlement Systems – Recommendations

FSI Connect InsightsFrom Basel I to Basel III – A ChronologyCovered BondsCredit Rating Agencies – Structured Product MethodologiesDynamic ProvisioningEnterprise Risk Management – An IntroductionLeveraged LendingMonolines and BankingSubprime Mortgage LendingSupervisory CollegesSystemic Risk from an Insurance Perspective

FSI Connect Tutorials

■ also available in French and Spanish● also available in Russian∆ also available in Chinese* also included in the Credit, Market or Operational

Risk modules# also included in the Accounting module

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Meet the People at the FSI

Josef Tošovský, ChairmanMr Tošovský was appointed Chairman of the FSI in 2000 . In this role, he sets the strategic direction of and manages the FSI . He is the FSI’s representative on the Basel Committee on Banking Supervision . Mr Tošovský was previously Governor of the Czech National Bank and Prime Minister of the Czech Republic . He is a member of the Board of the Financial Services Volunteer Corps, New York, and a member of the International Council of the Bretton Woods Committee, Washington. He is Associate Professor, University of Economics, Prague, and holds an honorary doctorate from Mendel University of Brno .

Qaiser Iskandar Anwarudin, Senior Financial Sector SpecialistQaiser joined the FSI in 2012. He is part of the FSI Connect authoring team and primarily focuses on content related to banking regulation and supervision . Qaiser represents the FSI on the Basel Committee’s Risk Measurement Group. Prior to joining the FSI, he was Acting Deputy Director in the Prudential Financial Policy Department at Bank Negara Malaysia . His main responsibilities covered the formulation of regulations for banks in the areas of capital adequacy, risk management and liquidity . He has a degree in Computer and Management Science from the University of Warwick.

Juan Carlos Crisanto, Deputy to the FSI ChairmanJuan Carlos’ responsibilities include supporting the work of the FSI Chairman in all areas of departmental activity and assisting him in ensuring the quality of the overall work of the FSI . He manages the FSI outreach programme for banking supervision . Juan Carlos joined the BIS in 2001 . Since then, he has been respon-sible for assisting financial sector supervisors worldwide with the implementation of international banking standards . During 2012-13, he was seconded to the Basel Committee Secretariat, where he worked on Basel III implementation assess-ments; supervisory issues in systemically important banks; and the Committee’s governance arrangements . Before joining the BIS, he served as Head of Regula-tion at the Peruvian Financial Authority . He holds an undergraduate degree from Católica University and a master’s degree from the London School of Economics .

Stefan Hohl, Senior Financial Sector SpecialistStefan joined the FSI in 2005 . He manages the FSI outreach programme for bank-ing supervision . He represents the FSI on the Policy Development Group and the Trading Book Group of the Basel Committee . Stefan was previously a Senior Economist (Supervision) in the BIS Asian Office. Prior to joining the BIS, Stefan held the roles of Head of Market Risk Models Examination and Validation, Head of Risk Research and Senior Field Examiner in the Banking Supervision Depart-ment at the Deutsche Bundesbank . He has also been a portfolio manager for an investment firm and the founding member of a start-up company. Stefan has a postgraduate degree in mathematics from the University of Tübingen .

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Gunilla Löfvendahl, Senior Financial Sector SpecialistGunilla has been with the FSI since 2002 and delivers FSI seminars for insurance supervisors around the world. She represents the FSI in the IAIS Resolution Working Group. She was previously Legal Counsel responsible for international work at the Swedish Financial Supervisory Authority. In this capacity, she was active in the development of international standards within the EU and IAIS and has also acted as an expert to the Swedish Ministry of Finance in their implementation. Prior to joining the FSI, Gunilla was director and consultant in financial services matters at Ernst & Young. Gunilla holds a master’s in law from Stockholm University.

Jeff Miller, Senior Financial Sector Specialist (Asian Office)Jeff joined the FSI in 2007 and is responsible for delivering the FSI’s seminar pro-gramme for banking supervision in the Asia-Pacific region from the BIS Repre-sentative Office in Hong Kong. He is the FSI’s representative on the Basel Com-mittee’s Working Group on Liquidity and Task Force on Interest Rate Risk in the Banking Book. Jeff joined the FSI following a secondment with the Basel Commit-tee Secretariat, where he provided support to the Working Group on Operational Risk and to the Joint Forum. Before moving to Basel, he worked with the Office of the Superintendent of Financial Institutions Canada (OSFI). His experience at OSFI ranged from on-site supervision to developing capital guidance and man-aging the regulatory reporting and analysis function. He holds an MBA from the Richard Ivey School of Business at the University of Western Ontario, London.

Roland Raskopf, Senior Financial Sector SpecialistRoland has been with the FSI since its inception in 1999. He manages the FSI outreach programme for banking supervision. He represents the FSI on the Joint Forum and the Supervision and Implementation Group of the Basel Commit-tee. Before joining the FSI, Roland was Director and Head of Market Risk Mod-els Examination and Validation at the Deutsche Bundesbank. He has also been a Senior Field Examiner in the Banking Supervision Department of the Bun-desbank. Other roles held include Treasury Officer, Risk Management at the European Bank for Reconstruction and Development, London, and Economist, Deutsche Bundesbank. Roland holds a postgraduate degree in business admin-istration from the University of Trier.

Noel Reynolds, Senior Financial Sector SpecialistNoel joined the FSI in 2014 and manages the FSI Connect programme. Before joining the FSI, Noel was a member of the Secretariat of the Basel Committee on Banking Supervision. At the Secretariat, he provided support to various working groups, including the Macroprudential Supervision Group, which developed the Committee’s frameworks for systemically important banks (SIBs), and the Work-ing Group on Capital, which monitors developments relating to contingent capi-tal and regulatory capital instruments. Prior to that, he worked at the Prudential Regulatory Authority of the Bank of England (formerly the UK Financial Services Authority) and began his career working as an equities analyst at Commerzbank Securities. Noel is a CFA charter holder and holds a joint honours degree in math-ematics and economics from the University of Durham.

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Gregory Sutton, Senior EconomistGreg joined the FSI as a Senior Economist in 2004 . He contributes to the work of the FSI by conducting research in a number of areas, including stress testing and the determinants of credit ratings and house prices . He earned a PhD in eco-nomics in 1995 from Yale University, where he specialised in the areas of finance, macroeconomics and econometrics . After completing his PhD, Greg worked in the Monetary and Economic Department of the BIS for a number of years . He holds an MA equivalent in statistics from Yale University and a BA in economics from the University of California, Berkeley .

Jean-Philippe Svoronos, Senior Financial Sector SpecialistJean-Philippe joined the FSI in 2003 . He is a member of the FSI Connect author-ing team, primarily focusing on content related to banking regulation and super-vision, and facilitates a number of FSI seminars as a speaker . Jean-Philippe was formerly with the Basel Committee Secretariat, supporting the work on the stand-ardised approach for credit risk, securitisation and e-banking . He has worked with France’s Commission Bancaire, where he was Head of Foreign Banks Supervi-sory Group and Deputy Head of Large French Banks Supervisory Group . He has also been Director of Research and Supervision, Nice branch, Bank of France, and a Financial Analyst/Project Manager at Société Générale . He holds degrees in history and corporate law and is also a graduate of the Institut d’Etudes Poli-tiques de Paris .

Jeffery Yong, Senior Financial Sector SpecialistJeff joined the FSI in 2011 and is primarily responsible for the FSI’s insurance tutorials in FSI Connect . He also shares responsibility for delivering the FSI’s seminar programme . He represents the FSI in the IAIS Capital Development Working Group. Prior to joining the FSI, he was a Member of the IAIS Secretariat supporting international standard setting initiatives relating to solvency, insurance groups, financial conglomerates and pensions. Previously he held the positions of Manager, Financial Surveillance Department, and Senior Executive, Actuar-ial Unit, with Bank Negara Malaysia, where he contributed to the development of the risk-based capital regulation for insurers . He is a Fellow of the Institute of Actuaries, UK, and holds an honours degree in actuarial science from City Uni-versity, London .

Raihan Zamil, Senior Financial Sector SpecialistRaihan joined the FSI in 2011 and oversees the development of banking and insurance supervision content on FSI Connect . Raihan represents the FSI on the Basel Committee’s Accounting Experts Group and the Weak Banks Task Force . He also presents on a range of supervisory topics at several FSI events . He was formerly IMF Advisor to Bank Indonesia and the Bank of Thailand, where he advised on a range of legislative, regulatory, supervisory and capacity-building initiatives . He has also been a senior advisor with a US consulting and advisory firm focusing on regulatory and supervisory policy issues, and held various posi-tions in banking supervision at the Federal Deposit Insurance Corporation (FDIC) . He has a degree in business administration from the Haas School of Business at the University of California, Berkeley .

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Isabella Arndorfer, Audit ManagerIsabella joined the FSI in 2015 . She supports the FSI outreach programme for banking supervision . Isabella has been an Audit Manager in the Internal Audit unit of the BIS for more than 10 years . She has led and conducted audits in the Banking Department of the BIS, specialising in internal controls and corporate governance issues of financial institutions. In 2006, she was seconded to the Internal Audit Department of the IMF in Washington. She holds a degree in busi-ness administration from the University of Economics in Vienna and a master’s in international management from ESADE Business School in Barcelona . She is a Certified Internal Auditor (CIA) and a Certified Financial Services Auditor (CFSA) from the Institute of Internal Auditors, Florida .

Sandra Haasis, Senior Asset Management SpecialistSandra joined the FSI in 2015 . She supports the FSI outreach programme for banking supervision . Sandra has been a Senior Asset Management Specialist in the BIS Banking Department, where she developed asset management products and managed cooperative initiatives in asset management services with central banks . She joined the BIS in 2008 from Deutsche Bundesbank where she was a senior economist and subsequently the Head of the Market Analysis Section . At the Bundesbank she was a member of inter alia the investment committees and the Financial Stability Committee . She holds a PhD in economics and an MA in political science from the University of Freiburg, Germany .

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FSI Support Staff

Esther Künzi

Julie MilneMonique Jansen

Bettina Müller Christina PaavolaFSI Seminar SupportBettina, Christina and Esther support the FSI seminar programme . The seminar support team will be your first point of contact for registration and related queries.

FSI AdministrationMonique provides secretarial support to the Chairman and the Director of the FSI .

FSI Connect SupportJulie provides FSI Connect administra-tion and support . She administers FSI Connect subscriptions and accounts .

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FSI EventsRegistrationEvents in Switzerland

Approximately eight weeks prior to an event being held in Switzerland, the head of supervision at each central bank or supervisory authority will receive a letter of invitation to nominate a member of staff to participate in the event . This letter will be accompa-nied by a draft agenda and a registration form for the event .

Applications for registration are accepted only during the registration period (there are no “pre-registrations”) and are dealt with on a “first come, first served” basis.

Events Jointly Organised with Regional Groups

Registration for regional seminars is handled directly by either the secretariat of the regional supervisory group or the hosting central bank or supervisory authority .

FSI ConnectSubscriptionFSI Connect is available by subscription to all central banks, supervisory authorities, deposit insurers and eligible public sector authorities . Discounted prices are available depending on the number of licences an organisation purchases and whether it subscribes for a one- or two-year term .

For further information, please contact us at fsiconnect@bis .org .

How Do I Access the FSI’s Services?

Contact DetailsFinancial Stability Institute Bank for International Settlements Centralbahnplatz 2 4002 Basel Switzerland

Tel: +41 61 280 9989 Fax: +41 61 280 9100

Email: fsi@bis .org (general inquiries) fsiconnect@bis .org (FSI Connect)

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